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Originally published by The Standardtop
June 20, 2026
2h ago
How Kenya lost billions: Wanjigi links debt crisis to 2014 law change
Wanjigi argued that the best way to solve Kenya's debt problem is by cancelling debts that were taken out of the country’s constitutional framework...
✨ Key Highlights
Safina Party leader Jimi Wanjigi claims Kenya has lost billions due to an unsustainable debt burden, linking it to a 2014 law change that he argues weakened oversight on public borrowing.
- Jimi Wanjigi alleges that cancelling debts taken outside the constitutional framework could save taxpayers Sh2.8 trillion.
- Kenya's public debt has reached approximately Sh12.8 trillion, with a debt-to-GDP ratio of about 69.5%.
- Wanjigi links the debt crisis to a 2014 amendment to the Public Finance Management Act, which he claims exempted loan proceeds from the Consolidated Fund, bypassing parliamentary and audit oversight.
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